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Currently, economics and cognitive science are heavily rooted in Newtonian physics, successfully borrowing a great deal of modeling tools from it. This is a great achievement. You do not need quantum mechanics or theories of relativity to build a house or bridge. Nevertheless, no one would deny the importance of modern theoretical physics. I believe many intellectuals have realized the need to go beyond the limitations of the Newtonian tradition for means of social science research. The big question is how to do it and how to do it right. This book aims to integrate economics and cognitive science by applying theoretical physics from a modeling perspective. During the course of this book, necessary background knowledge preparations for understanding the content topics are also briefl y provided. Thus, this book is designed to be conceptually and instrumentally self-contained. Everyone interested should be able to read it.
Engaging authors, unbiased presentations of essential ideas, and a knack for revealing the 'invisible hand' of economics at work inform the thoroughly updated new edition of Modern Principles, drawing on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.
Malthus has prepared in this work the general rules of political economy. He calls into question some of the reasonings of Ricardo and attempts to defend Adam Smith.
The development of the energy concept in Western physics and its subsequent effect on the emergence of neoclassical economics are traced to reveal how economics has sought to emulate physics, especially with regard to the theory of value.
This thoroughly updated new edition of this title draws on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.
From Nobel Prize–winning economist Daron Acemoglu, an incisive introduction to economic growth Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: https://press.princeton.edu/titles/8970.html For Professors only: To access a complete solutions manual online, email us at: [email protected]
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.